Chinalco Doesn't Plan to Raise Rio Stake

By

Alex Wilson

Updated Feb. 5, 2008 12:01 a.m. ET

MELBOURNE, Australia -- Aluminum Corp. of China President Xiao Yaqing said the company has no plans to increase its stake in Anglo-Australian mining giant Rio Tinto PLC, and even dangled the possibility of selling its holding to Rio's potential suitor BHP Billiton Ltd.

The Chinese company, known as Chinalco, and U.S. aluminum giant Alcoa Inc. Friday disclosed they had jointly purchased 12% of Rio Tinto's London-listed shares at...